The concept of initial exchange offering (IEO) is not new anymore. So it makes sense to acknowledge the best IEO promotion practices that work for blockchain projects today.
How was it that Fetch.AI was able to raise $6 million in just 6 seconds through IEO while BitTorrent raised $7.2 million in just 15 minutes?
In this guide, we discuss the best strategies for IEO promotion in 2021. If you’re considering launching an IEO, continue reading to discover how best to go about it.
Why IEO Promotion is Key
If your blockchain company is preparing for an initial exchange offering, you’ll require a specifically targeted IEO promotion that’s both impactful and proven.
Therefore, it is essential that you identify your target audience and strategically implement an IEO promotion strategy that will interest them. This is the best way to generate meaningful interactions, which will ideally result in increased traffic and a successful IEO.
Community engagement is critical to transforming supporters into actual conversions. For IEO promotion, community building helps you develop long-term relationships with potential and existing fans, thus creating opportunities for the community to continue learning about the project. The key objective of IEO marketing is converting community members and all the traffic you generate into actual retail investment.
Engagement across all social media platforms is critical for the success of an IEO. Companies should work extra hard to keep their communities engaged using various strategies including airdrops/bounties, AMA interviews, and podcasts. Also, listen to the community and act on their questions and concerns. If you need help with building a highly engaged community for crowdfunding success, consider hiring an IEO marketing agency.
What is an IEO?
Initial exchange offering (IEO) is a popular project financing model that allows blockchain companies to raise funds directly on a cryptocurrency exchange platform. It is strikingly similar to the ICO crowdfunding model, except that, in IEO, the exchange facilitates the token sale rather than the startup doing it themselves. With IEO, the exchange provides a platform where you can conduct your token sale as well as a guaranteed listing on the exchange after the sale concludes.
How Initial Exchange Offering Works?
As explained above, the initial exchange offering is a modified version of ICO fundraising. The cryptocurrency exchange provides a platform for blockchain companies to issue their IEO tokens and raise funds from investors.
Since the cryptocurrency exchange performs due diligence on the offering to protect its customers and its reputation, an Initial Exchange Offering is, therefore, more straightforward compared ICO. The exchange also conducts “know your customer”(KYC) screening, marketing, and selling tokens to investors on the behalf of token issuers.
Token issuers, however, have to pay a fee when conducting the token sale on a crypto exchange platform. Some exchanges may ask for a percentage of sales from the IEO fundraising in addition to the listing fee. After the Initial Exchange Offering, the exchange will list the coins on their platform to facilitate seamless trading.
As for investors that want to participate in the Initial Exchange Offering, all they have to do is just go to the exchange’s website and use the cryptocurrencies they added in their exchange wallets to purchase the IEO tokens.
Examples of Successful IEO Promotion
BitTorrent was the first startup to fundraise on Binance Launchpad through the IEO crypto fundraising approach. The P2P file sharing platform raised 7.2 million in just a few minutes. The second IEO, Fetch.AI established a record of only 22 seconds, hitting a hard cap of $6 million.
Following the success of BitTorrent, Binance Launchpad became an immediate success. Since February 2019 Binance Launchpad has successfully completed several IEOs on its platform.
You can get a full list of upcoming IEO projects on CoinMarketCap.
Are IEO PR Services Necessary?
Believe it or not, markets are value-driven, and no one is going to buy crypto coins that they can’t see their inherent value. With IEO PR services, you get help on how to clearly define your IEO to attract investors. You need to be able to clearly outline what your coin offers customers. You also need to define what your competitive advantages are, and how you intend to break down barriers. Therefore your PR campaign for an IEO should focus more on the product itself and that the company passed the exchange’s due diligence practices.
An IEO PR agency will also help you achieve maximum visibility. The best agencies have lots of connections with news outlets and crypto exchanges. They are skilled in breaking through the noise and getting your company and your IEO into the limelight. Generally, the better the agency you hire, the more efficient your visibility is going to be. Furthermore, the higher your visibility, the greater the demand for your offering. But you still need to have a competitive product and a solid team behind it.
What about IEO Advertising?
IEO advertising refers to a targeted, data-driven advertising strategy aimed at reaching crypto communities. The goal of crypto ads is to generate brand awareness, drive traffic or boost IEO crowd sales.
With IEO advertising, your ads will appear on Google, YouTube, Twitter, crypto websites, and more. You can also run ads that lead to your landing page on the exchange (in this example, Binance). By doing this, you will leverage the authority of the exchange you’re launching your IEO on.
IEO ads also come with a massive amount of data. You can track the performance of your campaigns in real-time, for example. In addition, you can learn about the demographics, interests, and habits of the people viewing and interacting with your ads.
Do IEO Promotion with an IEO Marketing Agency
An IEO marketing agency can help you build a strong community around your IEO project. They use various IEO promotion strategies such as airdrops, bounty campaigns, and so on to promote your project. In addition, a reputable IEO marketing agency will market your project the right way in order to generate interest from the crypto community. They will manage your social media messaging by posting updates relating to your project and growing your audience through various IEO promotion techniques. This will help build greater awareness for the IEO.
IEO marketing is all about converting all the traffic you can get into retail investment. TokenMinds is a reputable IEO marketing agency that specializes in building a highly engaged community to drive conversion for IEO token sales in Asia, Europe, and Latin America.